Bitcoin’s underwhelming price performance continues as the asset slipped below $93,000 yesterday but now sits at around $94,000.
In contrast, many altcoins have produced a lot more impressive increases over the past 24 hours, including ETH, XRP, BNB, and others.
It was precisely a week ago when the primary cryptocurrency was flying confidently above $100,000 and even registered an all-time high of over $108,000. However, the landscape started to change later that day and especially on Wednesday after the last FOMC meeting for the year.
BTC dropped to $105,000 at first, but the bears pushed it south a lot harder on Thursday and Friday. The correction culminated on Friday, at least for now, with a price dump to $92,000.
The bulls finally reemerged at this point and didn’t allow a breakdown beneath $90,000. In fact, BTC bounced off during the weekend and even jumped above $99,000 on Saturday. Nevertheless, that was short-lived once again, and the asset plummeted once again at the start of the current business week to under $93,000 yesterday, perhaps due to the rising net outflows from the US-based ETFs.
Despite recovering some ground since that daily low, bitcoin is still sluggish at around $94,000. Its market cap is well below $1.870 trillion on CG, while its dominance stands close to 54%.
Bitcoin/Price/Chart 24.12.2024. Source: TradingView
Interestingly, while BTC is down by 1% in the past day, most altcoins have turned red. ETH, BNB, XRP, DOGE, ADA, TRX, and SHIB have posted gains of around 2-3%, while AVAX, LINK, and SUI have jumped by 5-6%.
Even more impressive daily price increases come from the likes of HBAR and AAVE, both of which have jumped by double digits.
The biggest gainers from the top 100 alts include VIRTUAL (24%), PENGU (16%), BGB (15%), HNT (13%), and MOVE (13%).
The total crypto market cap has added around $20 billion since yesterday and is above $3.460 trillion now.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post Altcoins Take the Main Stage With Impressive Gains as BTC Stalls at $94K (Market Watch) appeared first on CryptoPotato.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
